Cost-benefit Analysis Method Research Articles

Time Efficiency and Cost-Benefit Analysis of New Student Admissions Mobile Application: A Case Study in A Vocational School Palembang

This study aims to analyze the effectiveness of using an Android mobile application in the new student admission system at a vocational school. The application is designed to replace the manual registration methods, which were previously conducted through Google Forms and WhatsApp communication. By integrating push notifications using Firebase Cloud Messaging (FCM) and a MySQL database, the system enables real-time communication between administrators and prospective students, as well as the automation of admission data management. The Time Efficiency method is used to measure the time saved in the registration and notification process compared to the manual method. Meanwhile, the Cost-Benefit Analysis method is applied to evaluate the ratio between the system implementation costs and the benefits produced, such as reduced operational costs, increased registration speed, and improved administrative staff efficiency.

In Search of Suitable Methods for Cost-Benefit Analysis of Cyber Risk Mitigation in Offshore Wind: A Survey

In recent years, notable incidents have highlighted the vulnerability of wind energy infrastructure, making cybersecurity crucial for the offshore wind industry. However, justifying the costs of cybersecurity measures is essential. A cost benefit analysis (CBA) is commonly utilised to support decision-making for risk mitigation. With a cost benefit analysis, risk mitigation strategies that strike an optimal balance between the costs of mitigation measures and the resulting risk reduction can be identified. This survey of literature was carried out to identify the existing proposed solutions for cost benefit analysis on cyber risk mitigation measures for offshore wind cyber physical systems. After narrowing the area scope, a systematic search across Scopus and Web of Science, yielded 18 articles, of which six met the selection criteria. It was found that the there was a lack of cost benefit analysis of cybersecurity solutions for, or set in, the area of offshore wind directly. From the analysis of the surveyed works, suggestions on future directions were given. The existing literature found lacks detailed cost modelling for offshore wind, beyond general breakdowns encompassing capital, maintenance, and labour/installation expenses, risk and scenario loss. Some of the literature used contextual factors such as compatibility and effectiveness of mitigation measures, effects on OT performance, geographical location, geopolitical context, and installed rated power which could be adapted to suit offshore wind. Since offshore operations contribute significantly to costs, cost modelling and consideration of other relevant factors pertaining to this area would be beneficial if explored. As an emerging area, in the future we expect this research to be a basis and a methodology that can be expanded with a larger data set from other publications in the field. Thus, it represents an opportunity to advance knowledge in offshore wind cyber-physical systems.

Economic evaluation of a wind and solar energy hybrid electric sightseeing boat in Laemsak, Krabi Province, Thailand

This research aims to analyze the economic evaluation of using hybrid wind and solar energy with a diesel-engine long-tail boat in the Laemsak tourism community, Krabi province, Thailand. It is a quantitative research study that collects and estimates the costs and expenses of developing hybrid wind turbine and solar panels with diesel-engine long-tail boat, including initial development costs, operational and maintenance costs, and depreciation costs, and also estimates the benefits of using the developed boat, such as revenue from boat services, fuel savings, and carbon offset savings. The economic feasibility is analyzed using the Cost-Benefit Analysis (CBA) method by calculating the Payback Period (PP), Net Present Value (NPV), Benefit Cost Ratio (BCR), and Internal Rate of Return (IRR), as well as analyzing the Sensitivity of some uncertain factors. The analysis of the project over a 10-year period indicates PP of approximately 3-4 years, positive NPV, BCR greater than 1.0, and IRR much higher than the Interest Rate. These figures demonstrate that the project is highly economically viable and suitable for investment.

Economics and logistics of the Mombasa – Nairobi railway project

The study is devoted to the economic evaluation of the Nairobi – Mombasa Standard Gauge Railway Project in Kenya. The cost-benefit analysis method was used to evaluate this project, the purpose of which is to find the net social benefit by subtracting all the project costs from the total social benefits. Among the various cost analysis methods, the corridor analysis method was used, as well as the empirical method, which included mathematical calculation, analysis and comparison of information from different modes of transport operating between the two cities of Nairobi and Mombasa, obtained from different secondary sources in order to obtain the social present value. There is a social benefit of $ 75 million and thus the project was worth the investment. The analysis of the Nairobi – Mombasa Standard Gauge Railway Project will help reduce the negative reaction that the Kenyan government has faced from local residents for its huge investment in this project, proving that the project is economically beneficial and will have a positive impact on the social welfare of the residents.

Access-based cost-benefit analysis

Current methods of cost-benefit analysis (CBA) for transport investments rely on travel-time savings for potential users. This approach presents a consistent and significant historical trend of forecast inaccuracy, and thus has been questioned and criticized. Access, or the ease of reaching valued destinations, can be used as an alternative. Access features a strong correlation with land value which can be measured through hedonic analysis, and subsequently, access gains offered by a transport initiative can be monetised via property uplift. We test this hypothesis and evaluate Sydney's South West Metro Link (SWML).We first develop linear and semi-log ordinary least square hedonic pricing models for house sales in the Sydney region. The models are set up with structural and neighbourhood attributes in addition to access measures, and result in a statistically significant fit.Next, we model changes to job access induced by the SWML. Benefits are then quantified by land value uplift and are estimated at $1.87 Billion in 2031 and between $1.53–$3.08 Billion in 2061, which reflect base and transit-oriented development (TOD) scenarios. The project is thus feasible should certain land use and economic conditions be met, including TOD to occur about station localities by 2061 and if project costs are minimal. Although limitations are noted, access-based CBA exhibits significant promise as an alternative approach to appraisal and has direct application in value capture strategy.

Perancangan Sistem Informasi Automatic Capture Tool dengan Metode Analisa Cost Benefit

Technology has an impact on the evolution of the business world, which can affect how to plan, control and evaluate business activities, as is the case with Adira Finance. Adira Finance has used the Monitoring Application to monitor the running application system, namely the ELK Tools (Elasticsearch Logstash and Kibana). ELK can capture existing data on the server, be it CPU usage, database, network, and so on. ELK can provide a warning if there is a failure or error in the application system used. However, the current solution team only analyzes data after a failure or error, cannot analyze data before the incident. For this reason, implementation of automation capture is carried out using Selenium WebDriver to assist in capturing automatic monitoring results earlier before system failure occurs. The analysis was carried out by applying the cost benefit analysis method. The result of this implementation is a bot that can automatically capture and send the results to the telegram group in Adira Finance. Companies can consider whether the implementation of this automation for repairs or improvements to the monitoring system performance management is acceptable or not

Impact of Nominee Agreement on Mining Business Entities Against the Welfare of the People

This study delves into the regulation of foreign share ownership and the prohibition of nominee agreements in the establishment of mineral and coal mining entities in Indonesia, aiming to ensure legal certainty and promote the welfare of the people, as mandated by Article 33 paragraph (3) of the 1945 Constitution. Employing three legal theories—basic legal values (Gustav Radbruch), legal system theory (Lawrence Friedman), and the welfare state—the research method incorporates both normative juridical and empirical juridical approaches. The findings reveal that nominee agreements, though legally questionable under Article 1320 of the Civil Code, serve as a means for foreign investors to secure their interests in Indonesian mining ventures. An Environmental Analysis of Law (EAL) employing the Cost-Benefit Analysis (CBA) method indicates a positive impact on the welfare of communities in Morowali and Kutai Kartanegara regencies due to these agreements. Proposing an ius constituent approach, the study advocates for relaxed foreign ownership regulations, allowing up to 51% ownership during the initial establishment period, accompanied by a mandatory divestment to 49% after ten years of exploration. Such a policy shift obviates the need for nominee agreements, ensuring both investment security and legal clarity. Supervisory mechanisms are recommended to oversee divestment and reinvestment processes, ensuring equitable distribution of mining dividends and bolstering legal certainty in mining operations. These proposed regulatory adjustments are envisioned to foster equitable resource management, thereby advancing the welfare of the Indonesian populace, particularly in Morowali and Kutai Kartanegara regencies.

Investigation of the self-healing, road performance and cost–benefit effects of an iron tailing/asphalt mixture in pavement

As a solid waste, iron tailings urgently need to be addressed to prevent further environmental and social issues. This study attempted to replace natural limestone filler (LSF) with 20%, 40%, 60% and 80% iron tailing filler (ITF) in an asphalt mixture to improve its microwave self-healing properties. For this purpose, the microscopic appearance and chemical composition of the ITF and LSF were first characterized by scanning electron microscope (SEM) and X-ray diffraction (XRD) test, while their microwave heating capacity and electromagnetic loss properties were explored. The microwave thermal behaviors of asphalt mixtures containing different substitution ratios of ITF were analyzed via infrared thermography. The self-healing abilities of the various mixtures were tested by five fracture-healing cycles with three-point bending (3PB) test. In addition, the high-temperature stability, low-temperature crack resistance and water stability of the mixtures were evaluated. Furthermore, the economic and beneficial aspects of the ITF-doped mixtures were assessed by cost–benefit analysis (CBA). The experimental results suggest that an ITF with more metal oxides and better electromagnetic loss characteristics exhibits favorable microwave heating ability. After fifth crack-healing cycle, the healing capacity of the mixtures with 60% and 80% ITF increased by 2.5 and 2.75 times, respectively, compared to that of the mixture without ITF. A total of 40% is the recommended appropriate addition of ITF, which helps to improve or has less impact on the road performance. Additionally, based on the CBA method, the incorporation of more than 60% ITF into an asphalt mixture can provide considerable economic efficiency. As a consequence, the potential use of ITF as an eco-friendly filler in asphalt mixture presents new opportunities for waste recycling and resource conservation while also introducing novel approaches for self-healing pavement.

Financial Analysis of Information Technology Investments: “Assessing Benefits through Cost-Benefit Analysis and Ranti's Generic IS/IT Business Value Approach"

Technology drives economic growth and increases industrial competitiveness and has long been recognized for its dominance of industrial productivity. PT XYZ is a company engaged in the transportation services sector in Indonesia; from 2012 to 2017, PT XYZ carried out a massive digital transformation process by investing in information technology to improve its quality. This investment includes ERP, SAP implementation and improvement, RTS implementation and improvement, web-based information technology platforms, and mobile applications. This study aims to analyze the benefits of information technology investment made in PT XYZ using secondary data from the Company's annual financial statements accessed through the Company's website. The results of this study were conducted by analyzing financial statements from 2012 to 2020 using the Cost Benefit Analysis method and Ranti's Generic IS / IT Business Value method. Based on the Analysis, investment in information technology benefits the Company without distinguishing between tangible and intangible benefits identified in the form of 8 sub-categories in 5 categories based on Ranti's Generic IS/IT Business Value.

ECONOMIC ACTIVITY EFFICIENCY IN THE CONTEXT OF CONTEMPORARY GLOBAL CHALLENGES AND SUSTAINABLE DEVELOPMENT

Purpose. The purpose of this study is to deepen the understanding and further development of theoretical approaches to evaluating the efficiency of economic activity, which will serve scientists and politicians to justify the choice of methods of evaluation, taking into account the nature of the object of evaluation and the context of this process. The research objectives follow from this: to analyze the correctness of using market prices to determine the efficiency of economic activity and to propose methods of adjustment. Design/methodology/approach. In the article, the authors investigated methodological the basics which are methods of system and comparative analysis, cost-benefit analysis, and multi-criteria methods, which were used to develop a holistic approach to performance evaluation. The informational basis of the study was made up of scientific domestic and foreign publications, as well as the authors’ own long-term experience of research work in the field of ecological economics. Findings. Today, many approaches to evaluating economic efficiency have been developed. However, all of them have strengths and weaknesses, so the question of the correctness of using these approaches requires further research. We suggest differentiating approaches to performance evaluation as follows. If decisions are made at the global or regional level and are of a strategic and/or irreversible nature or are associated with unrecognizability, then it is necessary to be guided by communicative (social) rationality and apply deliberative methods. In these cases, methods based on individual assessments are advisory. If we are talking about insignificant local influences and market-valued goods, then individual rationality and analytical decision-making methods will be relevant. Practical implications. The results of this research are of interest to economists and politicians. Proposed logic of cost-benefit analysis, the conceptual model of the ecological economy, positioning of approaches to determining efficiency according to two features: rationality and the nature of the goodwill that seek to improve the adaptation of their marketing communication strategy to meet the conditions of digitalization and tostrengthen their competitive foothold within the market. Also, the findings can help to improve economic activity efficiency in the context of contemporary global challenges and Sustainable Development. Originality/value. Based on the results of the analysis of the features of economic activity evaluation, determined by the subject and context of evaluation, as well as the choice of the evaluation methods themselves, a new paradigm of efficiency evaluation is proposed by differentiating its approaches taking into account the essence of the evaluated activity, the context of evaluation and the corresponding rationalities and tools. This paradigm, in response to modern challenges, allows expanding the subject area of economic science and overcoming the methodological limitations of monetary estimates

Economics of geotechnical asset deterioration, maintenance and renewal

Transport and other infrastructure systems are supported on, adjacent to and retained by extensive systems of earthworks of varying (and increasing) age, and of variable original construction quality. These earthworks are subject to natural deterioration, which can be accelerated and complicated by the effects of climate change. The ACHILLES research program is providing improved understanding of earthworks behavior, performance and deterioration. It is also developing methods and tools to analyze and provide decision support for the construction, maintenance and renewal of earthworks, with particular emphasis on the management of existing, deteriorating assets. The work described here aims to identify the most cost-effective timing and means of extending earthworks asset lives and maintaining their safety and serviceability. Conventional cost-benefit analysis methods, of the type used for new infrastructure projects, do not directly provide the decision support needed for the maintenance and renewal of existing earthworks assets. An alternative approach is proposed and applied to a modeled example, demonstrating the potential asset management benefits of early, pre-emptive intervention, the economic attraction of deferred intervention, and the means of identifying an intermediate whole-life cost ‘sweet spot’, based on a timely assessment of intervention options. The handling of the uncertainty associated with earthworks behavior, deterioration rates and times to failure is also considered, as is the extension of the single-asset approach to the management of multiple earthworks assets.

Research on Fuzzy Logic Approach to Cost-Benefit Analysis of Multimodal Transportation for China-Europe Liner Game

Abstract The implementation of the “Belt and Road” initiative provides unprecedented development opportunities for China-Europe liner multimodal transportation. In this paper, we constrain the cost-effectiveness of multimodal transportation between China and Europe using linear games from three perspectives: transportation cost, transportation time, and cargo time value. We also establish a cost-effective decision-making model. At the same time, a simulated annealing algorithm is introduced on the basis of a genetic algorithm, an adaptive genetic algorithm based on simulated annealing is designed to solve the model, and the optimal cost-benefit path assessment of China-Europe liner multimodal transportation is carried out based on the fuzzy logic method. Example analysis is carried out with three demands, and the advantages and disadvantages of the set of transportation route schemes are obtained. The optimal cost-effective scheme is selected as Scheme III, which has the highest scheme sticker schedule of 0.841, which verifies the feasibility of the model. The sensitivity analysis of transportation costs and transportation time shows that different transportation costs and times have certain influences on the transportation route selection of other goods. The cost-benefit analysis method for China-European liner multimodal transportation constructed in this paper provides scientific and reasonable guidance for multimodal transportation operators on path selection, which is of certain practical significance.

Reviewing the Cost–Benefit Analysis and Multi-Criteria Decision-Making Methods for Evaluating the Effectiveness of Lithium-Ion Batteries in Electric Vehicles

Lithium-ion batteries (LIBs) have a wide range of applications in different fields, starting with electronics and energy storage systems. The potential of LIBs in the transportation sector is high, especially for electric vehicles (EVs). This study aims to investigate the efficiency and effectiveness of, and justification for, the application of LIBs in the field of transport, primarily in EVs. The research focuses on single and multi-criteria evaluations of the efficiency of LIBs. Previous studies in which LIBs were evaluated using cost–benefit analysis (CBA) and multi-criteria decision-making methods (MCDM) were analysed. An electronic literature search of the Web of Science, Scopus, and other relevant databases was performed. The literature was searched using the keywords: “lithium-ion batteries”; “multi-criteria decision-making”; “cost-benefit analysis”; “energy storage”; “vehicles”; “PROMETHEE” (or other MCDM method)”. A total of 40 scientific articles concerning the application of CBA (of which are 20%) and MCDM methods between 1997 and 2023, worldwide, were analysed. The results show multiple applications of both CBA and MCDM methods. The main findings of the areas of application were summarised and future research was discussed.

Analysis of the Benefits of SAP S/4 HANA Cloud IT/Is Investment in the Case of PT XYZ

PT XYZ is one of the largest telecommunication companies in Indonesia. In 2020, PT XYZ implemented a digital transformation to increase its excellence by investing in industry telecommunication and information systems (IT/IS) enterprise resource planning software called SAP (System Application and Processing) S/4 HANA Cloud. The study aims to analyze the benefits of these IT investments made in PT XYZ. The results are carried out using the Comparative Analysis of Financial Statements followed by Business Value and Financial Feasibility Analysis and the Cost Benefit Analysis (CBA) method between 2018 and 2021. It can be revealed that the SAP S/4 Hana Cloud investment benefits the company's operations, which are identified in the form of 5 sub-categories that fall into required categories based on Ranti's Generic IT/IS Business Value.

The economic feasibility of aquavoltaics in Taiwan - A case study of whiteleg shrimp (Litopenaeus vannamei) culture

Green energy has become a global development trend, with solar power generation being a critical aspect of this movement. However, the development of solar power generation requires significant land resources, which poses a challenge in Taiwan due to its small area and dense population. Nevertheless, Taiwan possesses ample land resources in the aquaculture industry, with approximately 40,000 ha of aquaculture area. Hence, a new aquaculture model called aquavoltaics can be developed by integrating the aquaculture industry with solar power generation. This paper employs the Cost-Benefit Analysis and Monte-Carlo Method to evaluate the economic feasibility and analyze the risk of whiteleg shrimp culture under six different aquavoltaic configurations. The results demonstrate that all six types of aquavoltaics for whiteleg shrimp culture are economically viable. Furthermore, among the ground-type aquavoltaic systems, the embankment type exhibits the highest profitability and the lowest investment risk. As for facility-type aquavoltaics, the greenhouse type represents the most favorable investment scheme.

Suitability- and utilization-based cost–benefit analysis: a techno-economic feasibility study of virtual reality for workplace and process design

Virtual reality (VR) is increasingly being used in the corporate environment. Benefits of using VR have also already been identified in the area of combined workplace and process design. However, whether organizations should invest in VR for this use case is only feasible with knowledge of all operational and strategic costs and benefits. Since previous methods for simulating the costs and benefits of information systems rely strongly on prior knowledge and experience, these approaches are not effective for novel technologies such as VR for less tested use cases due to low empirical databases. In order to provide a more accurate cost–benefit analysis (CBA) of the use of VR for strategical planning like workplace and process design, design science research is applied. Subsequently, by including task technology fit theory, a suitability- and utilization-based CBA method emerged. The contribution thus provides, first, a systematically derived method for quantification and simulation of costs and benefits of strategic VR use in organizations. Second, it provides concrete insights into factors influencing profitability of an investment in a specific VR system for strategic planning projects for workplace and process design based on case study insights.

An economic evaluation of the effectiveness of telemedicine in hematooncology.

The article examines the effectiveness of remote monitoring and the evaluation of facts about patients with hematologic malignancies using telemedicine based on SMART technologies. The project was carried out in the Department of Haematooncology of the University Hospital Ostrava. Its objective was to test the efficacy of telemedicine in the treatment of patients with blood cancer. The cost-benefit analysis method was used to evaluate effectiveness, which also confirmed the feasibility of using this method to evaluate the costs and benefits of implementing specific medical projects. The conducted analysis demonstrated the effectiveness of using telemedicine procedures in the treatment of these patients, both in terms of quantifiable and non-quantifiable impacts on the Czech Republic's health system. This was mainly due to a large shortening of the length of the hospitalisation period for patients with problems whose deterioration was discovered by remote monitoring and their treatment could begin promptly. The shortening of the hospitalization period was achieved by around 40%. As a result, the complexity of treatment has been greatly reduced, benefiting both the hospital and, most importantly, the patient. With this prevention, the patient's chances of dying are reduced, as he or she is less likely to develop severe septic diseases. The total average financial savings of the Czech Republic's entire health care system for a patient who does not become septic due to a delayed response to deteriorating health only in hospitalisation, treatment, and medications is approximately USD 2,800.

THE COST-BENEFIT STUDY OF IMPLEMENTING THE KATEPAY PROGRAMME IN SURABAYA

The purpose of this study is to compare stakeholders from the existing community with the output or advantages and disadvantages of KatePay besides knowing the implementation of the KatePay Program in Surabaya City Schools by how the Government runs the program and what is felt by the community in implementing this program which has been running for one year. Data collection techniques in this study were interviews and Documentation. It then analyzed the data concerning the theory used. The theory applied by the author uses the Cost-Benefit Analysis method, which discusses the identification, benefits, implementation results, and conclusions of the programs being run. Results The first research shows that the KatePay program benefits students more than other stakeholders. Second, KatePay's performance is excellent because it can reduce money transfers and teach students to manage money. This program can also create intelligent and wise students in deciding or doing something. The research implies that it is necessary to socialize intent to all stakeholders so it is not misused.

Analisis Manfaat Investasi Teknologi Informasi Nirmala Hadir pada Koperasi Nirmala

The rapid development of Information Technology (IT) is currently creating new habits and facilitating life activities from all aspects which is a challenge for various parties, including non-bank financial companies, to be prepared to face business competition through the application of information technology. One of the companies investing in information technology is the Nirmala Cooperative by presenting Nirmala Hadir e-commerce to support its business units and prioritize convenience for its members. When developing digital technology, companies need a large capital investment with an uncertain percentage of return and the measurement is quite difficult to do so an analysis of the benefits of technology investment is needed to ensure that the benefits obtained are higher than the negative impacts that arise. The method applied in this research is a qualitative descriptive approach which in its analysis uses the Ranti's Generic IS/IT Business Value and Cost Benefit Analysis (CBA) methods. The results of research with Ranti's Generic IS/IT obtained 7 categories and 9 sub-categories of benefits and CBA calculations obtained an ROI value of 7.93%, NPV of IDR 11,731,529, Payback Period of 0.929 (339 days) and BCR of 9.87 which indicates that the technology investment made by the Nirmala Cooperative has a good profitability value with a payback period of less than one year.

A Cost-Benefit Analysis of Individual Investment in English Language Education for Ethnic Minorities in Yanbian

As a cross-discipline between linguistics and economics, the Economics of Language has been widely discussed by scholars both at home and abroad in recent years as economic globalization advances. Among them, English, as the most widely spoken language in the world, is involved in many economic activities of human beings. The location disadvantage of inland minority regions makes their average English education level low. Therefore, this study analyzes the costs and benefits of individual English education investment based on the Economics of Language and human capital investment theory, using questionnaire survey method and cost-benefit analysis method in economics, and taking English majors of Yanbian minority as the research object. The results of the study show that the benefits of personal investment in foreign language education of English majors in Yanbian minority areas outweigh the costs, and it is also an effective economic investment behavior. The results of this study can also provide an empirical basis for the formulation of policies on English education and economic development in ethnic minority regions. And to a certain extent, they can contribute to the economic development of ethnic minority regions, promote foreign communication and provide some help for regional language policies.